Leading Cold Pressed Juice Company, ‘MyGreens’ Raises up to $1M on LetsVenture
The round was led by Ajay Relan, founder chairman of CX Partners; he was previously the chief executive at Citi Venture Capital International
Photo Credit : mygreens.com,
MyGreens bags 3 to 5 crores from angels
MyGreens, a cold pressed juice company, has successfully raised up to 1 million dollars (somewhere in the 3 to 5 crore range) in an angel round on LetsVenture. The round was led by Ajay Relan, a pioneer of equity investing in India. Ajay is the founder chairman of the private equity group CX Partners and was previously the chief executive at Citi Venture Capital International.
The round also saw participation from Sundeep Bhandari, ex- Chairman of the Corporate Advisory Board of Cairn India. A well-respected figure in the oil and gas industry, Sundeep is credited with establishing several successful oil and gas ventures over the last two decades. He is currently the director and CEO of Petrodil.
Several industry veterans with experience in scaling up consumer businesses, global CXOs, Senior Bankers and other experienced investors also participated in the round.
Founded in Sep 2015 by Anurag Mishra and Rohan Gupta, MyGreens has already established itself as the leading cold-pressed juice brand in the Delhi-NCR region, with retail distribution in over 200 stores and a healthy online customer base. The company recently acquired rival JusDivine and is rapidly expanding in Mumbai, the largest cold pressed juice market in India.
"MyGreens is a startup that lies in a very interesting intersection of two megatrends - F&B and Health/Fitness. We started MyGreens about a year and a half back with Cold Pressed Juices, with a vision to provide world class products for the modern Indian consumer. This funding will ignite our move into mass market products with strong links to healthy living as we believe that the real advantage India offers is its large and growing middle class that aspires for a better and healthier life. We want to pioneer the clean label movement in India." said Rohan, cofounder of MyGreens.
“When investing, I invest in an entrepreneur who can be trusted, has the experience, the vision and the integrity to deliver on the idea. Anurag and Rohan are great in all these respects. Anurag has worked with BCG and Monitor (Deloitte) consulting, which gives him a good understanding of strategy. The company has a solid competitive positioning v/s similar companies that have been funded recently and will quickly grow in newer markets that it is exploring. ” said Ajay Relan, founder chairman of CX Partners.
MyGreens aims to be the largest cold pressed juice company and lead the "clean label" F&B revolution in India, becoming India's first international FMCG brand focussed on F&B. Driven by innovation and a keen focus on profitability, MyGreens plans to launch complimentary products targeted at the Indian masses. The company will be looking to raise their next round in the next 6-12 months.
"The cold-pressed juice industry continues to see exponential growth and investment activity, thanks to increased consumer awareness around health and fitness. MyGreens leverages this trend and is well positioned to become a global clean label FMCG brand. Both Anurag and Rohan bring tremendous skills along with a passion for health and fitness. MyGreen’s acquisition of JusDivine also demonstrates the founders’ vision of bringing rapid expansion and scale. The team has highly acclaimed nutritionists and taste experts onboard, which is a huge differentiator.
MyGreens has a great value proposition, strong competitive positioning and a solid team. LetsVenture will continue to be part of their exciting journey ahead, "said Shanti Mohan, founder and CEO of LetsVenture.
Founded in 2013, LetsVenture enables startups and investors to discover and connect with each other. There are over 13500 startups and over 2300 investors on the platform. LetsVenture works with startups and investors on discovery, syndication and closure. This involves managing due diligence and paperwork closure. LetsVenture has enabled more than 105 startups to raise over 42 million dollars.
Around The World